Bills, bills, bills. How Teen Events will (hopefully) make money. And lots of it…

Bills, Bills, Bills

Show. Me. The. Money.

In the last two months I have repeatedly been asked ‘well, how does it make money?’. It’s the final port of call for people who have given the idea and its execution a hearty thumbs up and, for obvious reasons, the question on every investor’s lips.

As defined in the deck, I see four logical routes to monetise Teen Events – Sponsored Event Listings, affiliate links, a freemium subscription model, and data. What follows is a brief outline of each area that forms my current thoughts as to how and why these might work.

Obviously assumptions need to be tested – and fast.

However, I’ve made the decision for the relevant functionality to fall outside the minimum viable product, and to first introduce at least one of the ideas outlined below after a round of funding.

ADVERTISING PLATFORM – SPONSORED EVENT LISTINGS

What’s the idea?

  • A self-service platform, like Google or Facebook Ads, for clients to pay for Sponsored Event Listings by clicks, impressions, or Event Follows.
  • Sponsored Events have increased visibility throughout the platform [visual execution TBD].

Who would pay for this?

  • Venues, promoters, record label marketing managers and artist managements who want want to promote a real-world Event such as a gig, fan event or signing.
  • As above, plus brands including radio stations, TV channels, magazines and websites who want to promote (drive traffic, awareness) to an Event at their Location [magazine cover, twitter chat, webcast, TV appearance, radio station listen live link]. They may also want to promote a specific piece of Event-related content e.g. a video or article link.

AFFILIATE LINKS

What’s the idea?

  • Users can follow releases on the Teen Events platform and be alerted when relevant buy and pre-order links are made available.
  • By following a release Event on Teen Events the user has shared an intention to buy.
  • Buy links and pre-order links are generated to drive sales of tickets, albums, singles, DVDs, books, calendars and other official (and unofficial) merchandise.

Who would pay for this?

  • The user pays the same price to the etail outlet, but Teen Events earns a commission.
  • On-site and in-email affiliate links can be auto generated through the Skimlinks API.

FREEMIUM USER SUBSCRIPTION

What’s the idea?

  • All users will have access to the product but will be limited in some way – encouraging them to pay for a monthly subscription, e.g.
    • User is only able to see upcoming Events and historic Uploads from the next/last 2 weeks. They need to pay to see more. Or,
    • User is only allowed to follow a maximum number of music artist Topics. They have to pay to track more than 3 Topics.

Who would pay for this, and how much?

  • Users – they subscribe to receive full listings through the Teen Events website.
  • The charge is £1 a month for access to all data for all Topics. Generating £12 a year in revenue per user.

DATA

What’s the idea?

  • Teen Events records a user’s complete relationship with the Topic they love.
  • We can see how each individual user’s relationship with something they love has evolved over time, as defined by the Events they interacted with.
  • We can also aggregate and anonymise this data to see how the whole fanbase’s relationship has evolved over time.

Who would pay for this?

  • Record labels and brands.

Leave a Reply

Your email address will not be published. Required fields are marked *